The 5-year Canada bond yield hit a 12-month low last week, causing fixed mortgage rates to drop.  This unexpected turn of events may be jump starting the spring market as potential buyers can now secure attractive rates. We saw many homebuyers putting their plans on hold due to high interest rates last year, but we're now seeing many of those buyers back are ready to jump into the market.

Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 521 (589, 526, 524)
Sales: 334 (306, 292, 279)
Ratio: 64% (52%, 56%, 53%)
Price Changes: 295 (250, 241, 250)
Expired/Off-Market Listings: 159 (171, 138, 266)
Net loss/gain in listings this week: 28 (112, 96, -21)
Active single-family home…

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 589 (526, 524, 433)
Sales: 306 (292, 279, 251)
Ratio: 52% (56%, 53%, 58%)
Price Changes: 250 (241, 250, 228)
Expired/Off-Market Listings: 171 (138, 266, 161)
Net loss/gain in listings this week: 112 (96, -21, 21)
Active single-family home listings: 2644 (2544, 2481, 2462)
Active condo listings: 1590 (1528, 1506, 1483)
Homes 4-week running average: $445 ($442, $444, $441)
Condos 4-week running average: $212 ($212, $208, $204)

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 526 (524, 433, 522)
Sales: 292 (279, 251, 257)
Ratio: 56% (53%, 58%, 49%)
Price Changes: 241 (250, 228, 223)
Expired/Off-Market Listings: 138 (266, 161, 160)
Net loss/gain in listings this week: 96 (-21, 21, 105)
Active single-family home listings: 2544 (2481, 2462, 2464)
Active condo listings: 1528 (1506, 1483, 1480)
Homes 4-week running average: $442 ($444, $441, $447)
Condos 4-week running average: $212 ($208, $204, $202)

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 524 (433, 522, 475)
Sales: 279 (251, 257, 240)
Ratio: 53% (58%, 49%, 51%)
Price Changes: 250 (228, 223, 243)
Expired/Off-Market Listings: 266 (161, 160, 158)
Net loss/gain in listings this week: -21 (21, 105, 77)
Active single-family home listings: 2481 (2462, 2464, 2373)
Active condo listings: 1506 (1483, 1480, 1449)
Homes 4-week running average: $444 ($441, $447, $444)
Condos 4-week running average: $208 ($204, $202, $201)

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This is one of those times when the stats don't seem to match what is happening in reality. Yesterday, our brokerage held our first-ever "Liv Better Day": where we learned a ton, celebrated our award winners (we give out awards for customer service excellence, leadership, community involvement and teamwork, not sales), and ended the day with a charity challenge where we gave away $4500 to local charities. I had a chance to discuss the market with a lot of our agents, and the stories I kept hearing were of multiple offers. Well priced, well marketed listings are getting a lot of interest from buyers in the Edmonton area. 

When you glance at the numbers below, they seem to suggest the market is slow. But really, we're comparing what has started off as a…

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 433 (522, 475, 461)
Sales: 251 (257, 240, 233)
Ratio: 58% (49%, 51%. 51%)
Price Changes: 228 (223, 243, 219)
Expired/Off-Market Listings: 161 (160, 158, 336)
Net loss/gain in listings this week: 21 (105, 77, -108)
Active single-family home listings: 2462 (2464, 2373, 2321)
Active condo listings: 1483 (1480, 1449, 1426)
Homes 4-week running average: $441 ($447, $444, $442)
Condos 4-week running average: $204 ($202, $201, $203)

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 522 (475, 461, 410)
Sales: 257 (240, 233, 212)
Ratio: 49% (51%. 51%, 52%)
Price Changes: 223 (243, 219, 234)
Expired/Off-Market Listings: 160 (158, 336, 149)
Net loss/gain in listings this week: 105 (77, -108, 49)
Active single-family home listings: 2464 (2373, 2321, 2364)
Active condo listings: 1480 (1449, 1426, 1463)
Homes 4-week running average: $447 ($444, $442, $440)
Condos 4-week running average: $202 ($201, $203, $201)


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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 475 (461, 410, 469)
Sales: 240 (233, 212, 166)
Ratio: 51% (51%, 52%, 35%)
Price Changes: 243 (219, 234, 268)
Expired/Off-Market Listings: 158 (336, 149, 198)
Net loss/gain in listings this week: 77 (-108, 49, 105)
Active single-family home listings: 2373 (2321, 2364, 2335)
Active condo listings: 1449 (1426, 1463, 1470)
Homes 4-week running average: $444 ($442, $440, $425)
Condos 4-week running average: $201 ($203, $201, $200)

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Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:

New Listings: 461 (410, 469, 418)
Sales: 233 (212, 166, 156)
Ratio: 51% (52%, 35%, 37%)
Price Changes: 219 (234, 268, 230)
Expired/Off-Market Listings: 336 (149, 198, 185)
Net loss/gain in listings this week: -108 (49, 105, 77)
Active single-family home listings: 2321 (2364, 2335, 2280)
Active condo listings: 1426 (1463, 1470, 1438)
Homes 4-week running average: $442 ($440, $425, $428)
Condos 4-week running average: $203 ($201, $200, $201)

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My analysis of the Edmonton real estate market shows that things have normalized in January. Sales of single-family homes and condos dropped below what we've seen for the past two years but above the levels seen for the previous 7 years. Strong fundamentals are keeping sales above average in Edmonton, even with higher mortgage rates than we've become accustomed to over the past few years. Between July and September, Alberta saw the largest net gain from interprovincial migration since 1980, adding more than 19,000 people. The vacancy rate is low, and rents are on the rise. We are currently working with buyers that are choosing to move for a variety of reasons - out-of-towners, first-time buyers that finally found something they like, homeowners running…

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